81% of Kenyans feel angry or fearful about the country’s external debt: survey

81% of Kenyans feel angry, anxious or fearful about the country’s level of external debt, a poll conducted by Infotrak found.

Read also: Uhuru Approves Supplementary Appropriation Bill for 2021, Budget Increases Borrowing from Ksh.125.7B

45 percent of those who took part in the survey reported feeling anxious; 19percentage of feelings of fear recorded; 17% said they were angry, while 6% said they felt helpless.

“Kenyans in the Nyanza, West, East and North-East regions are most worried about Kenya’s level of external debt,” the Infotrak report read.

62 percent of respondents said they don’t think regular borrowing from foreign countries is a good thing, while 76 percent said they believe most of Kenya’s loans come from China.

In all parts of the country, a majority of Kenyans expressed opposition to regular borrowing of loans from abroad: Central (69pc); Coast (67pc); Rift Valley (66 pieces); Nairobi (62 pieces); Western (60 pc); Nyanza (58 pc); Northeast (55 pc) and east (54 pc).

“Kenya is seen to continue to get development loans from different countries mainly because it keeps asking for them,” the report adds.

43 percent perceive bad loans as money borrowed from foreign countries that is lost or wasted through corruption; 24% said it was money that was not being used for its intended purpose, while 20% said it was money developing countries struggled to repay.

52 percent rated the government’s treatment of foreign debts as poor; 32 percent rated it as average; 12 percent gave a rating of excellent while 4 percent said they didn’t know.

Respondents from western Kenya ranked highest in terms of government mismanagement of debt (61%), followed by Coast (56%); Central (54 pc); Nairobi (54 pieces); East (52 pc); Rift Valley (49 pieces); North Eastern (44pc) and Nyanza (43pc).

The three main things that respondents say are most worrying about external debt are that future generations will have to pay it back for a long time; Kenya will default on repayments which will be a national embarrassment and if Kenya defaults on payments it will lose resources, facilities and facilities to foreigners.

The surveys were conducted using Computer Assisted Telephone Interviews (CATI) with a target sample of 800 respondents. The response rate was 94 percent.

The survey covered 24 counties and the eight regions of Kenya, with survey samples allocated proportionally. The Rift Valley had the largest sample while the northeast had the smallest.

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